How do you feel about competition?

[Artem]

Hey guys,

Had an idea to get this subject going for a few days now so I had to start it.

Personally, call me crazy, but I LOVE competition. I mean this just makes this whole internet thing a lot more fun for me. Without competition there would be nobody to push me further. It's one of the most encouraging things for me. Imagine how it feels when you're competing with dozens of serious, big sites and beating them in either SE rankings just because you did your homework... It feels great!

It just shows that this internet thing is about knowledge and a lot of it.

I would like you guys to post a few sentences on how do you guys feel about competition?

It's an encouragement type thing.

Artem

[TermsB]

I also very much like having some competition. Competition makes you have to try a bit harder and in the end results in the person viewing your work getting a better overall experience. I'm not the type trying to squeeze every last cent out of everyone who goes to my sites. I'd rather help them with a problem they face and know that they'll be satisfied and be back again.

[zincOnline]

Business is all about competition, that's why you have to got to work harder and smarter to stay on top

[Andrew Wilson]

There is a range.
For most businesses it is not possible to open a new market alone, it tends to be better to operate in an environment where somebody else has opened the market. It is better to be the second entrant that the first.

On the other hand, too much competition is not good either. If one has to spend all one's time looking at the competition and not the client then one will not succeed. At the same time too many entrants, even if most will, in the end, fail means that the market tends to fragment and nobody, not even the market leaders can make an adequate return on investment.

The trick is to manage the competitive environment.
Some competition is good, too much is bad. We all have different sensitivities. We must each find where we can be able to operate effectively. This is why, in our field, niche research tools usually come with configurable settings. We set our competition level to suit our ability and effectiveness.

Of course, all of this applies whether one is referring to oneself personally or to a business, the same situation applies.

[KarlWarren]

I love competition, it is because of them that:

a) I get their clients when they screw up
b) I get better because I want to be the best
c) I can learn from their mistakes, so I don't make them
d) I can learn from their successes, so I can emulate them
e) I work hard to keep my own clients happy

There are hundreds more reasons, but competition is what keeps my business alive, and ensures I'm on top of my game.

Kindest regards,
Karl.

[Jon Tees]

The right amount of competition can be great to keep people on their toes. Too much and not enough competition can be very bad. With too much everyone is too focused on beating everyone else, with too little companies are able to get away with offering inferior products at jacked up prices.

[Taylor French]

On one hand, I like competition, because it usually means there is interest in a niche.

On the other hand, I hate competition, because it makes it difficult to get my share of the traffic in a given area. I especially hate it when there is a lot of competition in the form of information products in a niche I'm really passionate about, because it makes it harder to attract quality affiliates. It means I have to pay out a lot more, and offer a lot more incentives, and it severely reduces my bottom line.

I don't mind competition as much in niches outside where my passions lie, but when I really believe in a product, I tend to be rather hostile to the competition.

[BIG Mike]

Yep - competition is priceless IF you've got a pair and are ready to truly compete with others. Makes breaking into a market a piece of cake and hell, there's plenty enough room for everyone to profit, just some more than others.

What I love best about my competitors is that they all buy my products and/or join my Wholesale Membership to keep an eye on me, hehehehe.

Competition rocks baby!

[sdentrepreneur]

I love beating up my competition. <weg>

[tryinhere]

you should never worry about competition, competition should worry about you.

[Rod Cortez]

I love competition. In fact, I thrive on it. The competition has done the majority of the market research for you. You can find out where they advertise. You can opt into their newsletters and read their content. You can purchase their products / services and learn how you can do it better. If they have an affiliate program you can join it and learn more about them there.

And sometimes, working with your competition can also help. Anytime I see a thread about competition it always reminds me of a saying that the late Cory Rudl used to say and write a lot:

"If you take care of your customers, the competition will take care of themselves".


RoD